Strong banking system is key to development, says Rajya Sabha MP at UNI Conclave

Guwahati, 12 April (UNI) The need for a sound banking system and financial inclusion are among the essential preconditions for the overall development of a state or region, prominent UNI Conclave 2022 participants said on Tuesday. .

Participating in a panel discussion on the “Role of Banking and Microfinance Institution in the North East Region”, Rajya Sabha, MP for Assam Pabitra Margherita, highlighted the importance of the banking system for the overall development of ‘a state.

North Eastern Development Finance Corporation Ltd (NEDFi) Chairman PVSLN Murty, State Bank of India (SBI) Managing Director Suranjana Dutta, Deputy Managing Director of NABARD Walter Kujur, Dr. Abhijit Sharma, Associate Professor, Indian Institute of Banking Management (IIBM) and Bidyananda Borkakoty, advisor to the North East Tea Association, attended the conclave.

While NEDFI Chairman, PVSLN Murty, underscored the need for state-specific programs to drive development in the region, SBI Managing Director, Ms. Dutta, spoke about the bank’s vast reach in the region. .

Ms. Dutta highlighted the need to increase the financial literacy of marginalized and poor people to take advantage of financial inclusion. She said that under the government’s flagship program Jan Dhan Yojana, nearly 2,000 accounts were opened daily in the region.

Dr. Abhijit Sharma, associate professor at IIBM, emphasized the need to include local bodies in the delivery mechanism of banking services.

NABARD DGM Kujur spoke about the various initiatives that the development bank has undertaken for transparent credit facility to farmers in the region.

The UNI conclave was organized for the first time in the North East.

Ajay Kaul, Editor of United News of India (UNI), said in his address that the agency will organize many more such events in other states in the region regarding the development of last mile people.

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